HRA RES 2000-14 - 00002019RESOLUTION NO. HRA 14-2000
A RESOLUTION MODIFYING THE REDEVELOPMENT PLAN FOR
REDEVELOPMENT PROJECT NO. 1 AND THE TAX INCREMENT FINANCING
PLANS FOR TAX INCREMENT FINANCING DISTRICTS NOS. 1, 2, 3, 6, 7, 9, 10, 11,
12, 13, 14, 15, AND 16 TO REFLECT INCREASED PROJECT COSTS WITHIN
REDEVELOPMENT PROJECT NO. 1 AND CREATING TAX INCREMENT
FINANCING DISTRICT NO. 17 AND ADOPTING A TAX INCREMENT FINANCING
PLAN RELATING THERETO
BE IT RESOLVED by the Board of Commissioners (the "Commissioners") of the Housing and
Redevelopment Authority in and for the City of Fridley, Minnesota (the "Authority"), as follows:
Section 1. Recitals.
1.01. It has been proposed that the Authority modify, approve, and adopt a Modified
Redevelopment Plan relating to Redevelopment Project No. 1 to reflect increased project costs,
pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047, inclusive,
as amended and supplemented from time to time.
1.02. It has been further proposed that the Authority modify, approve, and adopt Modified Tax
Increment Financing Plans for Tax Increment Financing Districts Nos. 1, 2, 3, 6, 7, 9, 10, 11, 12,
13, 14, 15, and 16 (the "E�sting TIF Districts") to reflect increased project costs within
Redevelopment Project No. 1, pursuant to Minnesota Statutes, Section 469.174 through
469.1791, inclusive, as amended and supplemented from time to time.
1.03. It has been further proposed that the Authority approve the creation of proposed Tax
Increment Financing District No. 17 (the Proposed TIF Districts) and adopt a proposed Tax
Increment Financing Plan relating thereto, pursuant to and in accordance with Minnesota Statutes,
Section 469.174 to 469.1791, inclusive, as amended and supplemented from time to time.
1.04. The Authority has investigated the facts and has caused to be prepared with respect
thereto, a Modified Redevelopment Plan for Redevelopment Project No. 1 and Modified Tax
Increment Financing Plans for the E�sting TIF Districts to reflect increased project costs within
Redevelopment Project No. 1 and a proposed Tax Increment Financing Plan for the Proposed TIF
District, defining more precisely the property to be included, the public costs to be incurred, and
other matters relating thereto.
1.05. The Authority has performed all actions required by law to be performed prior to the
modification, approval, and adoption of the Modified Redevelopment Plan, the Modified Tax
Increment Financing Plans, and the proposed Tax Increment Financing Plan.
HRA Resolution No. 14-2000 Page 2
1.06. The Authority hereby determines that it is necessary and in the best interests of the City
and the Authority at this time to modify, approve, and adopt the Modified Redevelopment Plan
and the Modified Tax Increment Plans to reflect increased project costs within Redevelopment
Project No. 1 and to create the Proposed TIF District and to approve and adopt the proposed Tax
Increment Financing Plan relating thereto.
Section 2. Findin�s.
2.01. The Authority hereby finds that the assistance to be provided through the adoption and
implementation of the Modified Redevelopment Plan, Modified Tax Increment Financing Plans,
and proposed Tax Increment Financing Plan are necessary to assure the development and
redevelopment of Redevelopment Project No. 1.
2.02. The Authority hereby finds that the Modified Redevelopment Plan, Modified Tax
Increment Financing Plans, and proposed Tax Increment Financing Plan conform to the general
plan for the development and redevelopment of the City as a whole in that they are consistent
with the City's comprehensive plan.
2.03. The Authority finds that the Modified Redevelopment Plan, Modified Tax Increment
Financing Plans, and proposed Tax Increment Financing Plan afford maximum opportunity
consistent with the sound needs of the City as a whole for the development and redevelopment of
Redevelopment Project No. 1 by private enterprise, and it is contemplated that the development
and redevelopment thereof will be carried out pursuant to redevelopment contracts with private
developers.
Section 3. Modifications, A�proval, and Adoption of Modified Redevelopment Plan.
3.01. The modification to the Modified Redevelopment Plan for Redevelopment Project No. ]
reflecting increased project costs is hereby approved and adopted by the Commissioners of the
Authority and is forwarded to the Fridley City Council for public hearing, review, and approval.
Section 4. Modification, A�proval, and Adoption of Modified Tax Increment Financing
Plans.
4.01. The modifications to the Modified Tax Increment Financing Plans for the E�sting TIF
Districts reflecting increased project costs within Redevelopment Project No. 1 are hereby
adopted by the Commissioners of the Authority and are forwarded to the Fridley City Council for
public hearing, review, and approval.
Section 5. Creation of Tax Increment Financin� District and Adoption of Tax Increment
Financin.°� Plan.
5.01. The establishment of the Proposed TIF District within Redevelopment Project No. 1 and
the adoption of the proposed Tax Increment Financing Plan relating thereto are hereby approved
and adopted by the Commissioners of the Authority and are forwarded to the Fridley City Council
for public hearing, review, and approval.
HRA Resolution No. 14-2000 Page 3
Section 6. Filin� of Plans.
6.01. Upon approval and adoption of the Modified Redevelopment Plan, the Modified Tax
Increment Financing Plans, and the proposed Tax Increment Financing Plan (collectively the
"Plans"), the Authority shall cause said Plans to be filed with the Commissioner of Revenue.
PASSED AND ADOPTED BY THE HOUSING AND REDEVELOPMENT AUTHORITY 1N
AND FOR THE CITY OF FRIDLEY, MINNESOTA, THIS 7TH DAY OF DECEMBER, 2000.
LAWRENCE R. COMIV�RS, CHAIRPERSON
ATTEST:
WILLIAM W. BURNS, EXECUTIVE DIRECTOR